Handelsinvest Investeringsforvaltning Trims Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Handelsinvest Investeringsforvaltning lowered its holdings in Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) by 20.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,000 shares of the construction company’s stock after selling 12,000 shares during the quarter. Cavco Industries accounts for 1.6% of Handelsinvest Investeringsforvaltning’s holdings, making the stock its 21st largest holding. Handelsinvest Investeringsforvaltning owned 0.54% of Cavco Industries worth $9,876,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. grew its stake in shares of Cavco Industries by 53.0% in the third quarter. Financial Management Professionals Inc. now owns 355 shares of the construction company’s stock valued at $73,000 after buying an additional 123 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Cavco Industries by 31.4% in the second quarter. Captrust Financial Advisors now owns 393 shares of the construction company’s stock valued at $77,000 after buying an additional 94 shares in the last quarter. US Bancorp DE grew its stake in shares of Cavco Industries by 25.2% in the first quarter. US Bancorp DE now owns 388 shares of the construction company’s stock valued at $94,000 after buying an additional 78 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Cavco Industries by 13,920.0% in the second quarter. Meeder Asset Management Inc. now owns 701 shares of the construction company’s stock valued at $137,000 after buying an additional 696 shares in the last quarter. Finally, KBC Group NV acquired a new stake in shares of Cavco Industries in the second quarter valued at $145,000. Hedge funds and other institutional investors own 93.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CVCO. StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Craig Hallum lowered their target price on Cavco Industries from $335.00 to $290.00 in a research note on Monday, November 7th.

Cavco Industries Price Performance

CVCO opened at $257.76 on Wednesday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 8.81 and a beta of 1.14. The business has a fifty day moving average price of $234.33 and a 200 day moving average price of $232.17. Cavco Industries, Inc. has a 12 month low of $179.47 and a 12 month high of $305.21.

Cavco Industries (NASDAQ:CVCO – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The construction company reported $8.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.83 by $3.42. The company had revenue of $577.39 million during the quarter, compared to the consensus estimate of $550.30 million. Cavco Industries had a return on equity of 27.72% and a net margin of 12.69%. On average, research analysts anticipate that Cavco Industries, Inc. will post 27.16 earnings per share for the current year.

Cavco Industries Company Profile

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Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, and MidCountry brands.